SYK is Here!

SYK is Here!

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Context

The migration for DPX and rDPX into SYK is NOW LIVE, as promised. This move, outlined in our "Introducing Stryke" post, enhances our commitment to delivering exceptional value and utility to our token holders and the wider options trading community.

Overview

  1. Migrate DPX & rDPX to SYK
  2. Incentives from the SYK Pool
  3. Migrate veDPX to xSYK
  4. Continued Migration Progress
  5. Conclusion

Migrate DPX & rDPX to SYK

The migration to SYK is live! Migrate your DPX and rDPX tokens easily to SYK for improved value and cross-chain functionality. Start your migration here and join us in this exciting new chapter.

Migration Steps:

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  • Connect your wallet.
  • Select the token for migration (DPX or rDPX).
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  • Click “Max” to migrate all your tokens.
  • Select “Convert to SYK” or “Convert to xSYK” based on preference.
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  • For DPX / rDPX conversion to SYK you need to approve & migrate to complete the process successfully.
  • For DPX / rDPX conversion to xSYK you need to approve, migrate, approve & convert to complete the process successfully.

Congrats! your migration to SYK is now complete.

Note:

  • SYK Contract Address: 0xACC51FFDeF63fB0c014c882267C3A17261A5eD50
  • Users who migrate to SYK will not be able to convert to xSYK within the existing UI until the next series of updates are completed. As such, for users looking to migrate to xSYK, we recommend you convert directly.
  • The migration window for users to migrate from DPX & rDPX to SYK is 1.5 years, with a countdown displayed on the migration page. Users are therefore recommending to migrate to the new token immediately.

Incentives from the SYK Pool

In celebration of this new beginning, we are offering attractive incentives to users who LP into the SYK/ETH pools on the Camelot DEX. The pool will be incentivised with 1000 SYK & 1000 xSYK. Stay tuned for the rewards announcement to go live.

By participating, you not only contribute to the liquidity and stability of SYK but also earn rewards. To find out more about our collaboration with Camelot, head over to our official Discord & Twitter channels.

For more details on xSYK, please refer to the “Unified Governance: The xSYK model” section here.

Migrate veDPX to xSYK

The introduction of xSYK allows token holders to have a stake in the protocol's future. Soon, veDPX holders will have the opportunity to migrate directly to xSYK, enabling them to partake in shaping the future of the protocol while benefiting from the it’s success. Stay tuned for more information.

Continued Migration Progress

As we continue progress towards migration, users can expect new and improved experiences on the Stryke platform.

These will include a new domain, a fresh and improved dApp with enhanced user experience and comprehensive dashboard for portfolio performance tracking. More details regarding these developments, will be shared in the coming weeks.

Conclusion

As we embark on this new journey with Stryke, we want to thank to our community for their continued support. This migration is not just a transition; it's a transformation towards creating a more efficient, and valuable ecosystem for everyone involved. We look forward to growing together and setting new benchmarks in the LPDfi space.

Stay updated with the latest announcements and developments by following our official channels.

Reference Links

Migrate DPX & rDPX to SYK here.

Checkout the new Stryke website here.

Trade options on Stryke here.

About Stryke

Stryke is a decentralised options protocol that focuses on maximising liquidity and enhancing gains for option buyers while minimising losses for option writers—all in a passive approach.

Stryke employs option pools that enable anyone to effortlessly earn yield. The protocol provides value to both option sellers and buyers by ensuring equitable and optimised prices for options at various strike prices and expiries, achieved through our proprietary, cutting-edge option pricing model designed to mirror volatility smiles.

📱Stay Connected

Stay informed by following our official social media accounts and visiting our website to keep up with all things Stryke.

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